ImmoScout24 and SV SparkassenVersicherung have jointly unveiled Deposit Guarantee+ as an alternative option for securing rent deposits. This new solution complements existing options and aims to offer advantages for both tenants and landlords.
For tenants, Deposit Guarantee+ removes the need to provide a cash deposit of up to three net cold rents. This preserves liquidity, which would otherwise be tied up for the entire rental period, and is available for other expenses such as transport, furnishing, or renovations when moving house. Instead of a direct deposit payment, tenants pay an annual contribution to SV SparkassenVersicherung. Dr. Gesa Crockford, Managing Director of ImmoScout24, pointed out that Deposit Guarantee+ eases the burden on tenants during the often financially strained relocation phase, without compromising security for landlords.
Simplified Processing for Landlords
Landlords also benefit from Deposit Guarantee+. Instead of setting up a separate deposit account, managing the deposited sum, and settling it at the end of the tenancy, they receive a digital guarantee certificate. This certificate can be accessed online after approval by the tenants. SV SparkassenVersicherung thereby assumes the guarantee for the agreed deposit sum.
In the event of a legitimate claim on the deposit, landlords can assert the guarantee directly with SV SparkassenVersicherung on first demand. Since it is a self-debtor guarantee, no prior recourse to the tenants is required. SV SparkassenVersicherung pays the agreed sum to the landlords; the tenants are then obliged to repay this amount to the insurance company.
Integrated and Digital Process
Ralph Eisenhauer, Board Member for Property/Casualty at SV SparkassenVersicherung, emphasised the strategic importance of Deposit Guarantee+. He highlighted that SV SparkassenVersicherung brings its expertise in home insurance, while ImmoScout24 stands for an integrated, fast, simple, and digital process. The conclusion of Deposit Guarantee+ is entirely digital and can be completed within minutes. After successful verification, tenants gain access to the guarantee certificate and can digitally release it for their landlords.
This Deposit Guarantee+ is part of ImmoScout24's comprehensive range of services for private landlords, which already includes support with rent price determination, applicant selection, and the provision of a free, legally reviewed tenancy agreement.
